Riyadh – Mubasher: Saudi Arabia-based Dallah Healthcare Company (DHC) on Tuesday reported a 26% year-on-year profit drop in the third quarter of 2018, registering SAR 101.4 million ($27.02 million), compared to SAR 136.8 million ($36.46 million) during Q3-17.
DHC attributed the third-quarter profit decrease to a drop in revenues, coupled with higher administrative and financing expenses, along with a rise in selling and distribution costs, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, the Saudi healthcare provider's profits increased by 9.74% during the three-month period ended September, from SAR 92.4 million.
DHC’s net profits after calculating Zakat and Tax retreated 58% to SAR 32.5 million by the end of Q3-18, compared to SAR 76.8 million during the same period last year.
Revenues fell 5% to SAR 280.9 million from July to September this year, from SAR 295.3 million in the same three months of 2017.
During the first nine months of 2018, DHC’s profits slid 21% to SAR 325.5 million, compared to SAR 410.9 million from January to September 2017.
Year-on-year, the company’s profits after calculating Zakat and Tax plunged 53% to SAR 109.3 million in the January-September period of 2018, from SAR 231.9 million.
DHC’s sales declined 3% year-on-year to SAR 862.7 by the end of the nine-month period of this year, compared to SAR 886.2 million.
Earnings per share (EPS) amounted to SAR 1.85 from January to September 2018, down from SAR 3.93 in the same period a year earlier.
DHC’s stock went down 2.81% to close Monday’s trading session at SAR 51.80.
